反向保理对供应链金融系统效益的动态影响研究——基于系统动力学的实证分析

Research on the Dynamic Impact of Reverse Factoring on the Efficiency of Supply Chain Financial System:Empirical Analysis Based on System Dynamics

反向保理是供应链金融模式的一种,可以支持企业延长货款支付期限且不影响供应商现金流。本文研究了反向保理模式下各参与方在供应链金融系统中的利益分配和参与动机,构建系统动力学仿真模型研究信用期限延长对供应链金融系统整体效益的动态影响。研究表明,核心企业参与供应链金融的动机在于供应链金融存在资金共享效应,信用期限是影响供应链金融整体收益与收益分配的关键因素。基于此,本文从促进供应链金融发展、保障供应链金融系统稳定性、提高中小企业对供应链金融的接纳度和参与度以及实现供应链系统整体效益最大化四个角度,提出构建供应链金融生态、有效提升供应链金融活力、加强多方协同、遵循互惠让利原则等建议。

Reverse factoring is a kind of supply chain finance model,which can support enterprises to extend the payment period without affecting the cash flow of suppliers.Through mechanism analysis,this paper studies the benefit distribution and participation motivation of each participants in the supply chain financial system under the reverse factoring model.A system dynamics simulation model is constructed to study the dynamic impact of credit term extension on the overall benefit of the supply chain financial system.The research shows that the motivation of core enterprises to participate in supply chain finance lies in the capital sharing effect of supply chain finance.Credit term is the key factor that affects the overall benefit and benefit distribution of supply chain finance.Therefore,from the four perspectives,including promoting the development of supply chain finance,ensuring the stability of supply chain financial system,improving the acceptance and participation of small and medium-sized enterprises in supply chain finance and maximizing the overall benefit of supply chain system,this paper puts forward some suggestions,such as constructing supply chain financial ecology,effectively improving supply chain financial vitality,strengthening multi-party coordination,and following the principle of reciprocity.